UPI Transaction Limit: With the rise of digital transactions, more and more people are opting for online payments instead of cash. UPI (Unified Payments Interface) has gained popularity as a convenient payment method among users.
If you frequently use UPI for your transactions, it’s important to be aware of the transaction limits set by your bank. Each bank imposes a daily limit on UPI transactions, which determines the maximum amount you can send or receive in a single day.
Additionally, there are also limits on the amount of money you can send or receive in a single transaction through UPI, and these limits may vary across different banks. The good news is that making payments through these UPI apps does not incur any additional charges.
Stay informed about the updated daily transaction limits for popular UPI payment apps like PhonePe, GPay, Amazon Pay, and Paytm to ensure smooth and hassle-free online transactions.
Transaction Limits for UPI Payments
When it comes to UPI transactions, there are certain limits set by banks and UPI apps that you need to be aware of. As per the guidelines by NPCI (National Payments Corporation of India), the maximum daily transaction limit through UPI is Rs 1 lakh. However, this limit can vary depending on the bank you are using.
For example, Canara Bank has a daily limit of Rs 25,000, while State Bank of India (SBI) allows transactions up to Rs 1 lakh in a day. Apart from the transaction amount limit, there is also a limit on the number of UPI transfers you can make in a day.
The daily UPI transfer limit has been set at 20 transactions, after which you will need to wait for 24 hours to renew the limit. However, it’s important to note that different UPI apps have their own specific limits. Let’s take a look at the transaction limits set by popular UPI apps.
With Amazon Pay, the maximum limit for UPI payments is Rs 1 lakh. However, there is an initial limit of Rs 5,000 for the first 24 hours after registering on Amazon Pay UPI. The number of transactions per day is set at 20, depending on the bank.
PhonePe also allows transactions up to Rs 1 lakh in a day through UPI. You can perform a maximum of 10 or 20 transactions in a day, depending on the app. PhonePe does not impose any specific hourly transaction limit.
Google Pay (GPay)
Indian users can make UPI payments of up to Rs 1 lakh throughout the day with Google Pay. However, the number of transactions allowed is limited to 10 per day. This means you can complete a maximum of 10 transactions, each with a maximum amount of Rs 10,000. Google Pay does not have an hourly transaction limit.
With Paytm UPI, the daily transaction limit is set at Rs 1 lakh. However, there are specific limits for hourly transactions. You can transfer up to Rs 20,000 from Paytm in an hour. Paytm allows 5 transactions per hour and a total of 20 transactions in a day.
Make sure to keep these transaction limits in mind while using UPI payments to ensure smooth and hassle-free transactions throughout the day.